Day: September 19, 2022

This “Unorthodox” Meeting With Your Team Every Month Can Get Them to Work As Hard As You Do (In Most Cases, Even More)

I still remember the scene. It was Las Vegas.

I was here to meet someone who is a reader of my COO Alliance blogs.

Let’s call him Mr.X.

Mr. X came out with his 40-foot pearl white Limousine.

Two of his bodyguards in black suits escorted him to the entrance of our meeting room.

For a minute, the entire crowd’s eyes were on his grand entrance…

He is a business magnate in this city.

We greeted each other and got down to business.

I was there for a leadership development program for his top C-level executives.

When I suggested to him an important meeting that he needs to conduct with his team monthly…

…he got defensive.

He said in a very hesitant tone, “Oh, I don’t want them to know how much money I make”.

I said, “Dude, you come to work in a 40-foot limo & own two private jets. Your team gets it.”

Here is my unorthodox idea that works:

“Every month, get all the employees to meet and review the income statement together. During  that meeting, look for and obsess as a team about how to make more money, and how to save money in business.”

This puts some real “skin-in-the-game” for your team that no fancy perks or a YPO membership can achieve.

You can also share a percentage of profits with your employees – but make sure they earn it.

Or else you’re wasting it.

Imagine if your employees start looking at profits the same way owners do.

This is real leadership development. You are developing & breeding leaders within your organization.

How many new ideas, productivity, and revenue will your organization generate?

It will be worth more than how much you give them in profit sharing.

Let me tell you how I stumbled upon this strategy…

Twenty years ago I used to run a painting business – College Pro Painters.

I hired 9 of my friends and they all hated me.

Why? They thought I was making all this money off their hard work.

The reality was I hadn’t made a single penny in profits yet.

They knew what my revenue was but had no idea what my expenses were…

When I showed them that I wasn’t making any money, they got scared for me, and for themselves.

They thought “Hell – if we don’t get this guy to grow a little bit more, save him money, and help him be profitable, we might be out of a job part way through the year.”

When I got the leverage of 9 other minds who also thought like owners –  business exploded.

Get transparent with your employees.

Show them how much money is coming in and how much is going out.

This will light a fire under them.

You need people who care as much as you do about the business, don’t you?

8 Hispanic Financial Influencers You Should Be Following

Our cultural background and upbringing often shapes how we navigate our lives — including our financial lives.

In honor of Hispanic Heritage Month, we’d like to shine a spotlight on several personal finance experts from the Latinx community who are championing for more inclusivity within the financial industry and are doing their part to raise financial literacy in their communities and beyond.

8 Hispanic Personal Finance Influencers to Follow in 2022

From podcasters and bloggers to Certified Financial Planners and Accredited Financial Counselors, the money gurus on this list help both English and Spanish speakers alike learn to better their financial lives.

1. Giovanna “Gigi” Gonzalez of First Gen Mentor

Giovanna “Gigi” Gonzalez, TikTok influencer, financial educator, speaker and founder at The First Gen Mentor has been leaning into creating content to help the Latinx community build generational wealth.

This personal finance expert has been named in the 40 under 40 for HACE (The Hispanic Alliance for Career Enhancement) and recently won an inaugural grant for Latinx Creatives.

You can find Gonzalez speaking passionately about her mission to support the first generation on social media and finding creative ways to encourage her TikTok audience to invest in their retirement or overcome credit card debt.

2. Natalie Torres-Haddad of Financially Savvy in 20 Minutes

Natalie Torres-Haddad is the award-winning personal finance writer of Financially Savvy in 20 Minutes and a financial literacy and mental health advocate. Her viral Tedx Talks, “The Foreign Language of Financial Literacy” and “The Confidence Gap” share her experience as a first-generation college graduate and inspire others on the road to financial independence.

Natalie currently hosts The Financially Savvy in 20 Minutes podcast and you can find her and other Hispanic financial influencers sharing insights about overcoming financial trauma and building generational wealth on Twitter.

3. Luis F. Rosa of On My Way to Wealth

Luis F. Rosa moved to the United States from the Dominican Republic at age 11. Despite not learning much about money at home, Rosa grew up to become a Certified Financial Planner and runs the financial planning firm Build a Better Financial Future.

His podcast, On My Way to Wealth, offers financial tips to busy Gen X-ers — covering topics like buying a home in a hot market and using a health savings account. Investopedia named Rosa among one of the top financial advisers of 2022.

4. Luzy King of Viva La Budget & Finance

As a first generation professional, Certified Financial Planner Luzy King thought the secret to success was just working harder. Now this personal finance guru runs Viva La Budget & Finance to bring financial education to her community.

When King isn’t dropping into podcasts or running webinars to share insights on overcoming the Latina wage gap, she’s on TikTok encouraging her followers to say “hola” to wealth.

5. Beatriz Acevedo of SUMA Wealth

Beatriz Acevedo is an Emmy-award winning Latina media maven and entrepreneur. Her platform SUMA Wealth (which can be accessed completely in Spanish) is a financial inclusion company that aims to educate and empower the Latinx community.

SUMA features engaging personal finance advice and offers a “dinero toolkit” to help people tackle credit card debt, grow their savings and consider homeownership.

6. Rita-Soledad Fernández Paulino of Wealth Para Todos

Rita-Soledad Fernández Paulino is a former math teacher turned personal finance educator. Her platform, Wealth Para Todos, is dedicated to teaching those in underserved communities how to build wealth.

In addition to sharing financial advice on Instagram, Paulino has a bimonthly newsletter where she discusses money mindsets, financial goal setting and budgeting. She and her husband are on a path to retire before 50, and Paulino is studying to become a Certified Financial Planner.

7. Jannese Torres-Rodriguez of Yo Quiero Dinero

Jannese Torres-Rodriguez is a Puerto Rican side hustle queen who runs the podcast Yo Quiero Dinero, a 2022 Plutus Award winner. With the success of her food blog, Delish D’Lites, and other entrepreneurial pursuits, Torres-Rodriguez was able to quit her day job in May 2021 at age 36.

On Torres-Rodriguez’s award-winning podcast, she shares money stories from other Latinas and people of color. She educates and inspires others to gain control of their financial lives, build generational wealth and become financially independent.

8. Jen Hemphill of Her Dinero Matters

Hailing from humble beginnings in Colombia, Jen Hemphill is an Accredited Financial Counselor and author of the book Her Money Matters.

On her podcast, Her Dinero Matters, Hemphill chats with other members of the Latinx community about various personal finance topics from budgeting and goal setting to entrepreneurship and investing. She also discusses matters that specifically affect the Hispanic community, like how to overcome financial barriers as an immigrant and what Latinos need to know about retirement.

Kaz Weida is a senior writer at The Penny Hoarder. Nicole Dow, a former senior writer at The Penny Hoarder, contributed.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

 

BSP sets digital banks’ RRR at 8%

BW FILE PHOTO

THE reserve requirement ratio (RRR) of digital banks will be at 8% and they will likewise be covered by existing prudential requirements for big banks that mandate them to maintain adequate capital and liquidity buffers, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday.

BSP Circular No. 1154, dated Sept. 8 and signed by BSP Deputy Governor Eduardo G. Bobier as officer-in-charge, amends the Manual of Regulations for Banks, Manual of Regulations for Non-Bank Financial Institutions, and Manual of Regulations on Foreign Exchange Transactions to clarify the applicability of prudential requirements to digital banks, among others.

These include rules on capitalization, liquidity, leverage, and reserves, as well as guidelines on corporate governance, technology risk management, cybersecurity, consumer protection, and anti-money laundering (AML), among others.

The circular set digital banks’ reserve ratio, or the percentage of deposits and deposits they must keep with the BSP, 8%. The RRR for big banks is currently at 12%, one of the highest in the region. Reserve requirements for thrift and rural lenders are at 3% and 2%, respectively.

Under the circular, digital banks must meet the same Basel III capital, liquidity and leverage requirements covering universal and commercial banks and they will also be subject to the related reporting requirements.

The Basel III framework contains measures that aim to improve banks’ risk management so they can withstand excessive financial stress. These came in the aftermath of the 2008 Global Financial Crisis.

Universal and commercial banks and their subsidiary lenders have been required to comply with standards under the Basel III framework as adopted by the BSP since 2014.

Under these rules, big lenders are required to have a minimum capital adequacy ratio of 10%, a Tier 1 ratio of 7.5%, and a 6% common equity Tier 1 ratio.

They are likewise mandated to maintain a net stable funding ratio — a measure of the ability of a bank to fund its liquidity needs over one year — of 100% on both solo and consolidated bases, as well as a countercyclical capital buffer set at a maximum of 0% to 2.5%.

The central bank also requires these lenders to have a minimum capital conservation buffer of 2.5% and a liquidity coverage ratio — which mandates big banks to hold high-quality, easily convertible assets to cover potential net cash outflows over a 30-day period — of 100%.

Lastly, they must have a minimum leverage ratio — which represents how much capital banks should have on hand to cover non-risk weighted assets — of 5%.

Meanwhile, under capital rules, the central bank added a section that requires thrift, rural and cooperative banks that primarily offer financial products and services that are processed end-to-end through a digital platform and/or electronic channels under an Advanced Electronic Payments and Financial Services license to maintain a minimum capital of P1 billion, just like digital lenders, and will be given five years to meet the new requirement. They must also submit a capital buildup program to the BSP within six months.

The BSP also set a 25% limit on digital banks’ aggregate investment in equities in all enterprises, in line with those for thrift, rural and cooperative banks. This is below the 50% imposed on universal banks and the 35% limit for commercial banks.

Digital banks’ IT profile has been tagged as “complex” in the amendments, meaning they use technology extensively in business processes and delivering financial products and services.

They will be subject to existing BSP rules for universal and commercial banks on internal audit and operational risk management, among others.

For governance, the BSP said digital banks should have at least one member of the board of directors and one senior management officer with a three-year experience and technical knowledge in operating a business in the field of technology or electronic commerce.

It said the directors as well as president and chief executive officer of digital banks are subject to confirmation by the Monetary Board, while chief operating officers, treasurers, heads of internal audit and risk management, and compliance officers are subject to the confirmation by the BSP Financial Supervision Sector.

Online lenders must also adopt an electronic AML system capable of monitoring risks associated with money laundering and terrorist financing as well as generating timely reports for the information of its board of directors and senior management.

The circular also outlines fees and penalties applicable to digital banks, as well as the application process for these lenders.

The central bank capped the number of digital banking licenses to six last year to monitor the development of the sector, ensure competition, and boost its capacity to regulate these kinds of lenders.

The six online lenders that secured licenses to operate in the country are Tonik Digital Bank, Inc.; GOtyme of the Gokongwei Group and Singapore-based Tyme; Maya Bank of Voyager Innovations, Inc.; Overseas Filipino Bank, subsidiary of Land Bank of the Philippines; UNObank of DigibankASIA Pte. Ltd.; and UnionDigital of UnionBank of the Philippines, Inc. — KBT

 

Why Investors Keep Lovin’ McDonald’s Stock

 

  • McDonald’s continues to deliver growth
  • The company goes about its business ringing up sales to value-minded eaters
  • It also has a steady history of quarterly dividend distributions

Just like you know what you’re getting when you order the number 1 value meal, you know what you’re getting with McDonald’s (NYSE:) stock.

Far from flashy, the fast food king (sorry, Burger King) is the quintessential stable growth stock. Its brand is globally recognized and its burgers and fries have been a staple for on-the-go families and travelers for decades.

What took place more than 50 years ago was our first clue. When McDonald’s went public in April 1965, investors gobbled up shares like a 10-pack of Chicken McNuggets. A $22.50 IPO price quickly climbed to $30 by the end of the first trading day.

Nearly six decades and twelve stock splits later, ‘Mickey D’s’ is still attracting investors in search of stability. What is it that makes the stock still appetizing after all these years? Let’s dig into the bottom of the bag for that last fry to find out.

McDonald’s Global Long-Term Growth…

Despite the influx of fast food and fast casual restaurant chains, McDonald’s continues to be able to deliver growth. Last year’s 53% earnings per share (EPS) growth was an anomaly tied to pandemic reopenings. But as the operating environment normalizes, Wall Street is forecasting 6% and 7% bottom line growth in 2022 and 2023 respectively. Not bad for an old school burger joint.

The reality is that many peers would love to have mid-single digit EPS growth over the next couple years as they grapple with cost inflation and slowdowns in customer traffic. It is steady growth that most find elusive because they lack the brand power and marketing prowess of a McDonald’s.

Across geographic borders, McDonald’s gets its message across about its brand and purpose. People know that they’re getting a consistent, affordable meal that’s relevant to their culture. The key is that McDonald’s doesn’t rest on its laurels; it evolves with the times.

Nowadays much of the company’s marketing strategy is digital. Through initiatives like the newly launched ‘MyMcDonald’s’ rewards program, customers are continually reminded of the value that a stop at McDonald’s represents. Within six months of its U.S. launch, some 30 million members enrolled. Yes, McDonald’s is still relevant to modern consumers—and to an increasing extent in today’s economy.

McDonald’s…With A Side Of Defensive

With over 40,000 locations across 100-plus countries, it’s hard to go anywhere without spotting the golden arches. And when consumers’ budgets get spread thin as they are now, restaurant, drive-through, and delivery volume tends to stay the same if not pick up. It is this constant source of demand that enables McDonald’s to succeed in strong and weak economies alike.

As full-service restaurants struggle to fill tables during recessionary periods, McDonald’s quietly goes about its business ringing up sales to value-minded eaters. The value menu starts looking pretty tasty when gas and grocery prices rise at their fastest pace in 40 years. Bottom line: even when money is tight, McDonald’s doesn’t get cut from the budget.

Grocery stores and other fast food operators are also defensive investments, but McDonald’s belongs near the top of the list. Down about 5% year-to-date, it has held up well compared to its Dow cohorts and the broader . If the stock happens to finish down for the year, it would be the first time since 2014 when it slipped 3%. Given the run it has had since, shareholders shouldn’t fret a mild (sweet and sour sauce) dip.

McDividends

In fact, even when McDonald’s has the occasional down year, its dividend payouts help soften the blow. A steady history of quarterly dividend distributions is another big reason investors are fond of the defensive stock.

Based on the forward payout ratio, roughly half of McDonald’s earnings are returned to shareholders in the form of dividends. The dividend has been increased in each of the last 45 years—and that’s in spite of the geopolitical and economic turmoil the world has endured in that span. No other restaurant can match that claim and few publicly traded companies in any industry can top it.

The current $1.38 per share income payment means that investors can collect $5.52 in annual cash handouts for every McDonald’s share owned. It’s essentially a free happy meal—and represents a 2.2% forward yield that is above the consumer discretionary sector average.

Investors have gravitated towards McDonald’s shares over the last few months as the economic outlook has become more cloudy. In turn, the stock has rallied 17% off its March 2022 low and is within striking distance of its $271 all-time high.

Regardless of where the market heads in the final months of the year, McDonald’s will likely continue to catch a bid from conservative investors. If it manages to close up for the year, it’ll be only the second Dow-30 stock (UnitedHealth Group (NYSE:) being the other) to have finished green every year since 2015.

Palestinians reach truce to end West Bank clashes

NABLUS, West Bank: Palestinian security forces and militants agreed to a truce on Wednesday to end violent clashes in a flashpoint West Bank city, local officials said.

The violence highlighted deep disenchantment with the internationally backed Palestinian leadership.For now, the deal to end the clashes eases tensions in the area, which on Tuesday was gripped by some of the fiercest antagonism directed at the Palestinian Authority in years.The clashes erupted after an arrest raid by Palestinian security against local militants. The two sides exchanged fire as angry residents pelted an armored jeep with objects and chased it away. One man was reported dead. The violence was reminiscent of the way Palestinians typically protest against Israeli troops.Also Wednesday, the body of a Palestinian man suspected of killing an 84-year-old Israeli woman was found hanged in central Tel Aviv, police said.The unrest in Nablus reflected the deep unpopularity of the Palestinian leadership, which is widely seen because of its security ties with Israel as entrenching Israel’s 55-year military occupation of the West Bank and its nearly 3 million residents. It has also been beset by corruption and has repeatedly delayed elections.A semblance of normal life returned on Wednesday to Nablus, known as the West Bank’s business capital. Shoppers walked around the debris from the clashes as firefighters atop cranes smashed broken glass out of storefront windows bordering the city’s main Martyrs Square. Palestinian security forces were deployed in armored vehicles in the city center.A committee of Palestinian factions and other prominent figures said that under the truce, Palestinian security forces would cease to arrest suspects wanted by Israel in the city, unless they broke Palestinian law. Authorities would discuss the release of one of the men arrested in the recent raid. They would also release Palestinians detained in Tuesday’s clashes, unless they damaged property or looted.The Palestinian Authority maintains close security ties with Israel and the two often collaborate against Islamic militants in the West Bank. Israel has prodded the Palestinian Authority to do more to contain militancy, especially in the months following a spate of deadly attacks against Israelis in the spring, which killed 19 people.Israel has instead intensified its own activity in the area, sending troops on nightly arrest incursions into villages, cities and towns, rounding up hundreds of Palestinians and killing some 90 during that time. Israel says the vast majority of those killed were militants, while others have been local youths killed while throwing stones or firebombs at Israeli troops.Some civilians have been killed in the violence, among them a veteran Al Jazeera journalist and a lawyer who inadvertently drove into a battle zone.The northern West Bank, including the areas around Nablus and Jenin, a city that has long been a bastion of armed struggle against Israel, have been focal points in the raids. The Palestinian Authority has less of a foothold there and is viewed with deep suspicion because of its security ties to Israel.That disenchantment, coupled with the soaring tensions driven up by the nightly Israeli raids, boiled over with the clashes on Tuesday.Israel says the raids are aimed at dismantling militant networks that threaten its citizens, and that it makes every effort to avoid harming civilians. Palestinians say the incursions are meant to maintain Israel’s military rule over territories they want for a future state — a dream that appears as remote as ever, with no serious peace negotiations held in over a decade.Israel’s occupation of the West Bank is now in its 55th year, with no signs of ending anytime soon. The Palestinians seek all of the West Bank, home to some 500,000 Israeli settlers, as the heartland of a future independent state.In Tel Aviv, police said they found the body of a Palestinian man suspected of killing an 84-year-old Israeli woman after an overnight manhunt.Police said earlier an 84-year-old woman was killed in a suburb south of Tel Aviv and they were searching for Musa Sarsour, 28, from the West Bank city of Qalqilya, who was considered a suspect. They were treating the woman’s death as an attack with nationalist motives, police said, and hundreds of officers fanned out to comb through the area.District police chief Haim Bublil said Sarsour was found hanged in central Tel Aviv, off a major shopping district, early Wednesday.The woman was found unconscious on the side of a road on Tuesday afternoon and was declared dead. Security camera footage, which captured the attack, showed her being struck repeatedly from behind and falling to the ground.Israeli Prime Minister Yair Lapid, who was at the United Nations General Assembly in New York, called the killing a “shocking attack by a despicable and cowardly terrorist.”

What is the goal of the Recruitment Strategy?

Many businesses wonder why recruiting is essential in their organisation. This article will go over the significance of new recruits in any organisation. The authenticity and professionalism of your company are reflected directly in successful recruitment. Finding the right people to work with is the most important aspect of your business. A good recruitment procedure is required to attract the right kind of employees for your company’s needs. Your hiring process must be both economical and time-consuming. Recruitment and training can be costly and time-consuming, so make sure you are hiring the right people. A successful recruiting process can reduce the amount of time spent searching for applicants, interviewing them, hiring them, and training them. Also, the process varies form empresas seleccion personal to companies.

  • It can expedite these procedures and make your search for qualified candidates more efficient. What precisely is the issue with any strategy? A strategy defines big and important questions. The questions that must be answered are who, what, when, and why. When and who is doing what? What are they up to, and why are they up to it? Your recruitment tactic is based on the belief that skilled corporate resource utilisation will be prepared to just provide your company with the best available personnel. Furthermore, your method has the potential to yield positive results in your market!
  • So, what exactly is the goal? A recruitment strategy helps promote activation and clarity of purpose in the process of recruiting and selecting people for your empresas seleccion personal, and it integrates business objectives with talent acquisition goals. Furthermore, an employee strategy begins with recognition of your company’s worth in order to better comprehend and understand the behaviour of the people you want to attract.
  • Another reason to choose a recruitment policy is to determine how skill will be recognised and company will be attracted, how the brand image will be sold to talent, and finally how prospects will be analysed for employment. Your recruitment brand can help you attract top talent.
  • Nobody can be the best at everything these days. Any recruitment strategy must include talent evaluation. Do you want your supervisor to talk to recruiters about how they got into the industry market your company more? Or, because you are in charge of the hiring process, will you set the queries and roles for your managers? Always recognise team roles when evaluating talent. Establish consistent assessment methods and criteria to attract and evaluate talent!

 

Mediabridge launches in EMEA with new Paris office – Jean-Philippe Amos joins as EMEA MD 

Out of Home tech company, Mediabridge today officially launches in EMEA with the opening of its Paris office. Jean-Philippe Amos, a senior industry executive with over 20 years’ experience in international media, will head up the offering, joining the company as EMEA MD. 

Launched in 2020 and designed for the digital age, Mediabridge is a technology-led independent agency reaching audiences through Out of Home (OoH) using proprietary technology. Having invested £5m in its tech over the last two years, Mediabridge provides clients with unrivalled access to worldwide OoH inventory to deliver multi-market reach whilst retaining central control.  

The company offers neutral, measurable and effective OoH planning and buying for clients.  

Having held senior roles, including SVP Strategic Partnerships EMEA at WME |IMG and VP International Sales at Fox International Channels in Paris, Amos will focus on delivering Mediabridge’s next stage of international growth. He joins from CSE Network, was an advisor to start-ups and has worked for both media owners and agencies, including Hearst, CNN and ESPN. 

Expanding rapidly, Mediabridge has tripled its headcount over the last 12 months, growing from 8 people to 32. The team currently places campaigns in over 80 countries for international clients, with 6 international hubs. 

“We took time and care in our decision to launch our EMEA office, refining the business model and finding the right entry point,” comments David Payne, Mediabridge CEO. “Jean-Philippe is a true global citizen, fluent in four languages and was the right choice to spearhead operations. For us, it’s not about hiring just another Out of Home exec – he has a deep understanding of the communications mix and media, which was essential. 

He adds: “The industry is continuing to recover, with, for example, global travel growing 72% YOY, making the launch timely. We are thrilled to have Jean-Philippe be a part of the journey.” 

Amos adds: “The OoH sector is going through an amazing transformational period. The next decade will see exceptional growth, from the increase of the global digitalisation of inventory, to the emergence of smart cities; offering client partners both branding and performance media platforms. If you add mobile geolocalisation capabilities, Mediabridge is in a very unique space. 

“I was drawn by the success David and his team have achieved in such a short period after launch. I feel honoured and privileged to join the company at a pivotal time to build our business in the EMEA region.” 

 

 

Crypto Industry Trends Forecast 2020-2023

 

When it comes to the cryptocurrency market, it seems that there are no accurate predictions. We know very little about a new kind of money. Bitcoin, the first cryptocurrency, was released in 2009, just 11 years ago, and now we have a multi-billion dollar crypto market that appeared almost out of nowhere. Therefore, experts can predict the price of Bitcoin in 2025 which ranges from $1,000,000 to 0.0000001, and every prediction has a chance of being fulfilled.

Of course, cryptocurrency trading is not limited to Bitcoin: Ethereum, Monero, Litecoin and other currencies account for almost half of the market. However, bitcoin reigns supreme in the crypto world. Bitcoin is trending due to the zero risk of inflation, and its compound annual growth rate (CAGR) is expected to be 3% between 2019 and 2024. As a result, any analysis and forecasts from the Bitcoin perspective must take into account.

The cryptocurrency market operates on the same principles as other financial markets. Japanese candles and other indicators, according to technical analysts, can be seen on the charts. Simply put, many market indicators reflect human behavior rather than the true cost of the stock. An experienced analyst can track and identify patterns of movement themselves, as well as create graphs of future changes.

Factors affecting the cryptocurrency industry
Regardless of their relative importance, each of them is important. Moreover, each of these factors has the potential to derail future expectations. As a result, it is necessary to follow them in order to have a better understanding of the market. We have identified several major cryptocurrency industry trends.

Store Information
The cryptocurrency market is not affected by the major economic and political news that affects the forex and stock markets. The US unemployment rate, the US-China trade war, and the new European Central Bank interest rate could all cause chaos in currencies and securities. On the other hand, the specific set of news related to cryptocurrencies is the main factor of influence and driving force of market fluctuations.

The crypto market is focused on new government regulations and other government moves. Moreover, this market is sensitive to updates – the successful launch of new platforms, price updates, movements of major players, etc.

Expert opinions
The pool of crypto experts is diverse. On the other hand, the cryptocurrency market values ​​technical experts, owners of large startups, major investors in the market, and others. On the other hand, the crypto market is full of social climbers – YouTube bloggers, news writers, self-promoting traders and other loud voices.

As a result, distinguishing between a true expert’s opinion and a forgery is a difficult task. As a result, expert opinions have an impact on the market, but the reaction is also short-lived. When market participants realize that they are dealing with a fraud, they stop the transaction and start waiting for the real news.

Rumors about cryptocurrency
The main difference between news and rumors is the ability to verify information. Real-life events, trends, economic indicators and other searchable data are used to generate market news. At the same time, rumors are based on opinions and quotes. However, thousands of investors are buying and selling cryptocurrencies based on rumors. These transactions cause price changes.

When the cryptocurrency market was at its peak in 2017, even minor news could cause prices to fluctuate. However, the cryptocurrency market will be calmer in 2020. For example, the “breaking news” that Elon Musk intends to invest $1 million in Bitcoin is unlikely to impress investors. However, rumors are a way to manipulate the market, so the cryptocurrency market is not immune to it.

Technology updates
Cryptocurrencies are based on blockchain systems and were probably the first high-tech payment method. However, technologies do not exist in a vacuum: they evolve and change all the time. Significant technological changes can be detrimental to the cryptocurrency market, but they usually do not happen suddenly, giving the market enough time to adapt.

For example, the crypto world is waiting for the new Bitcoin halving in 2020. Bitcoin halving is the process of dividing the number of rewards generated per block in order to keep the total supply of Bitcoin below 21 million. The previous halving drew attention to Bitcoin and raised its price. There is no reason to wait until next year for another scenario.

gold cost
Gold is widely considered one of the leading active reserve assets in the financial markets. When the value of fiat currencies fall, financial investors turn to reserves such as gold, silver, and commodities. Cryptocurrencies are also an alternative investment option in times of economic turmoil. The increased demand for the metal is driving up the price of gold, and investors are starting to buy bitcoin.

And due to the Corona virus pandemic, the price of gold reached new heights in 2020. China is the largest exporter of gold in the world, and production there stopped after several weeks of quarantine. Due to the limited production of the metal, the price of gold rose and the demand for Bitcoin increased dramatically. However, another economic downturn could frustrate investors and drive them away from the volatile cryptocurrency market.

Trends in Cryptocurrencies 2020-2023
Keeping in mind the key impact factors, any crypto player should also follow the major crypto trends 2020-2023. Of course, everything can change very quickly: no one expected the coronavirus pandemic and the global quarantine at the beginning of 2020, not to mention the economic crisis in the world’s leading economies. We created the forecast based on the current market situation and hope that major crypto trends will continue indefinitely.

COVID and Bitcoin: Halving for 2020
As mentioned earlier, the previous halving of 21 million bitcoins has intrigued investors. The reason is straightforward: the scarcity of new bitcoin supply is driving up the price. Moreover, as the price increases, Bitmain becomes more profitable, mining increases, and the end of Bitmain is approaching. When mining farms, mostly in China, go out of business, Bitcoin faces a serious challenge. However, he regained his position after the turmoil. So at least Bitcoin will stay on top in 2020: we don’t expect another crypto winter.

Moreover, Bitcoin is benefiting from the pandemic. During periods of financial market volatility, investors turn to reserve assets such as metals, commodities, and cryptocurrencies. Moreover, in a post-pandemic world, dissatisfaction with the traditional economy and fiat currencies will drive new entrants into the cryptocurrency world. Bitcoin, as the oldest and most reliable currency, will continue to lead and set major cryptocurrency trends.

One interesting fact: Tom Lee, a former analyst at JP Morgan, believes that the fair price of bitcoin is $14,800, but could rise to $150,000 if the number of bitcoin wallets reaches 7% of the number of Visa cards (for now)4 5 billion). Anyway, Bitcoin’s forecast for 2020-2023 is rather optimistic.

Follow the leader in Altcoins

Ethereum
Ethereum is the undisputed leader among altcoins. Nasdaq has added Ethereum and Bitcoin to its list of indices. Its dominant position stems from the fact that Ethereum is not only a cryptocurrency but also a platform for many blockchain projects. However, Ethereum faced scalability issues. The platform has been unable to process remittances as the number of Ethereum-based projects increases. The world is still waiting for Ethereum-based enterprise applications. If a company like Uber launches blockchain apps that accept cryptocurrency payments, Ethereum will be around for a long time. Otherwise, it may end up being a dead coin. Expectations are moderate.

ripple
The phenomenon of Ripple is that there is no single opinion about its nature: some market analysts do not believe that it is a cryptocurrency due to the lack of mining. However, Ripple has formed a partnership with 50 major banks and financial institutions. Banks usually oppose cryptocurrency trends, but not Ripple. The primary challenge for this coin is to take Swift out of the market. If this occurs, the outlook can be changed from moderate to positive.

EOS
EOS is a rising star in recent years and the main competitor to Ethereum. This platform can support enterprise applications without causing scalability issues. As a result, if Ethereum fails the challenge, EOS could take its place. At the moment, the forecast is favorable.

Monero
Monero remains at the top of the list of the most popular cryptocurrencies. It is widely considered the most secure cryptocurrency. However, it may lose its position. Apparently 90% of transactions can be traced. Even after the latter, the percentage of safe transactions is less than 50%. Expectations range from moderate to low.

Looking into the future
Have you heard of a self-fulfilling prophecy? This intriguing social and psychological phenomenon illustrates the ability of human belief to influence the future. The prophecy is fulfilled because a large number of people believe it will. Their beliefs influence their actions, and the resulting behaviors align with those beliefs.

Netflix released the second season of Altered Carbon, the Cyberpunk series, in 2020. The story takes place in the early 2000s. Surprisingly, the semi-legal dark and dirty store accepts Bitcoin, Litecoin, Monero and Z-cash. Why do the creators of the chain think people will use cryptocurrency after 400 years of us?

The answer is that national currencies may lose value as globalization continues and the potential expansion of space continues. When humanity is scattered across multiple planets, it’s hard to find a global equivalent – but cryptocurrencies can fill that void. And if people believe that cryptocurrencies will exist in the 21st century, this prophecy has a good chance of coming true.

 

Why Smart Tech Acceleration is Essential to Long-Term Business Growth

To adapt to the evolving technology landscape and the COVID-19 pandemic, did you invest in solutions that aided your company in achieving its long-term goals? Or, were you forced to make quick decisions in 2020 that are no longer a benefit to your business? If so, you’re not alone. The rapid growth of technology, or tech acceleration, shows no signs of slowing, and businesses have gradually begun to adjust to the “new normal.” Small and medium-sized businesses (SMBs) have started to realize that to provide a competitive level of service to both customers and to retain and support employees, they must keep up with current trends that support their goals and vision.

Here are a few reasons why staying current with technology is critical:

  • Implementing the right integrated toolkit saves time and effort, increasing overall efficiency.
  • Streamlining technologies and processes can help you increase productivity by improving the employee experience.
  • Removing obsolete technology  that no longer receives crucial security patches will ramp up your security. Better security helps prevent losses and downtime.

The emphasis, however, must be on smart tech acceleration rather than just speed. While tech acceleration is about fast implementations that fix short-term issues, smart tech acceleration focuses on implementing technology that supports the organization’s long-term goals and vision.

More about smart tech acceleration

Like many companies, you’ve probably seen a lot of changes since the pandemic began in 2020. Businesses had to make rapid decisions overnight. Deploying tools for remote work and collaboration to adapt to COVID-19 restrictions proved essential, and keeping employees safe and productive became a priority. While these digital solutions might have helped businesses like yours survive during a period of great uncertainty, they may have been inadequately integrated with existing systems or no longer fulfill your objectives and vision. It’s time for a smart tech acceleration that considers your company’s long-term strategy, market trends and the role technology can play in furthering key initiatives. A prediction that investment in smart infrastructure will increase by 40% in 2022 demonstrates that many organizations understand the importance of effective technology acceleration.

Smart tech acceleration also emphasizes the importance of technology for improving customer experience and employee retention. While 10% of businesses commit to going fully remote, 60% experiment with hybrid environments and 30% return to the office, seismic shifts in customer and staff retention patterns could occur if quick acceleration gets prioritized over a long-term strategy. Rushed changes and accompanying solutions may not serve your employees and customers well.

Three ways strategic upgrades support long-term business growth

  • Businesses today must collaborate with several vendors to perform various tasks. Smart tech acceleration requires identifying partners who align with your values and are innovative enough to contribute to your future roadmap. This is crucial because otherwise, you’ll have to face multiple issues down the road, and things may get even more complicated if you have to find a substitute in the middle of a project.
  • Integration helps businesses meet their growing IT demands by making it easier to connect new solutions with their existing IT infrastructure. In fact, many manufacturers today design their technology products expecting future integration with other IT components. Smart tech acceleration advocates for integration to improve business operations. A centralized infrastructure boosts the efficiency of information sharing and workflows, resulting in higher productivity. It also reduces operational expenses, improves overall response time and guarantees that information is easily accessible when needed.
  • Smart tech acceleration ensures your organization’s growth by focusing on key performance indicator (KPI) improvements rather than quick, reactionary installations. You could lose your prospects to your competition if you don’t invest in a long-overdue technological upgrade. Remember to avoid quick fixes and instead focus on investments for long-term productivity and operational success.

While it’s difficult to walk the path of smart tech acceleration alone, having an expert MSP by your side takes some pressure off your shoulders. Contact us today for a no-obligation consultation.